Business planning: What has been, what worked and what needs improvement
Recently we held our last Lunch Learn Do session for 2023. It was an opportunity to introduce our new improved format that recognises that just learning is not enough, making time to actually DO and work on the business is the way, to growth and improvement. After all, we cannot do what we have always done if we expect new and better results , especially with continual changes in the business landscape. .
Now is the time to plan.
A good place to start is always to look back first , reflect on what has been, what worked and what needs improvements. So our enthusiastic participants, lead by Leigh Powell, business strategist and mentor at YTM, involved themselves in looking forward to the new year to optimize their business processes, improve their time management, and set achievable goals .
What is the value of Reflecting and Planning:
Evaluating Progress and Learning: The session emphasized the importance of reflecting on the past year to evaluate successes and setbacks. This reflection is crucial for learning from experiences and making informed decisions in the future.
Setting Realistic Goals: Participants were encouraged to review their past year’s achievements and challenges to set realistic and achievable goals for the upcoming year.
Creating Tangible Steps: The session helped in mapping out a clear and systematic roadmap to achieve set goals, turning abstract aspirations into actionable steps.
Balancing Life Aspects: A key takeaway was finding harmony between business, family, and personal life, and understanding how to make necessary adjustments for better balance.
Improving Time Management: The session highlighted the importance of effective time management, focusing on prioritizing tasks and scheduling efficiently.
Addressing Challenges: Participants learned how to recognize and address business challenges, such as client management and marketing strategies.
Strengthening Business Strategies: The session covered vital business aspects like marketing, client onboarding, pricing, and innovation, guiding participants on how to strengthen these areas.
Personal and Professional Development: Emphasis was placed not just on business metrics but also on personal growth aspects, like learning to delegate effectively and enhancing leadership skills.
Prioritizing and Focusing: The session helped participants understand what worked and what didn’t, aiding them in prioritizing tasks for the next year.
Building Confidence: By achieving past goals and learning from mistakes, participants left the session more prepared and confident for future challenges.
Participants were encouraged to ask themselves important questions regarding their business operations, particularly if working with a team or considering outsourcing or seeking help from virtual assistants. These questions covered areas like system optimization, effective delegation, clear communication, content creation processes, social media utilization, leveraging opportunities, client management improvements, effective time management, pricing strategies, and nurturing existing databases.
What was the overall impact of this focussed YTM Lunch Learn Do session ?
Feedback from participants indicated that the session provided a comprehensive platform where they felt they had used their time well. Acknowledging that sometimes, buried in the doing of business, they do not pause, reflect, and plan strategically for the upcoming year.
A positive outcome was that by focusing on both personal and professional development, as well as practical aspects of business management, participants had time to decide what mattered to them and how to better manage their time. This holistic approach ensuring that they are well-equipped to navigate the challenges and opportunities of the new year.
You may be interested in taking a look at the Business Planning Checklist which focussed the conversation HERE and ff you are a member of the YTM community you can access the recording in our Knowledge Vault. We always welcome new members - for more details read here.
The team at YTM live in Melbourne, Australia. Having grown up in small business families, they understand that running a small business can be tough and effects every aspect of your life.
Kerryn and Leigh Powell have experienced the challenges you face, and how important the right support, knowledge and strategies are for your business or organisation to grow. Technical knowledge is not enough.
They understand that business owners and professionals often feel they are facing overwhelming odds and lack the support and knowledge they need. The members of the YTM community benefit from access to business networking events, workshops, strategy sessions and a supportive community designed with you in mind! Let’ have a conversation and discuss how YTM can assist you to grow your business. Book a time here .
